Mr Cooper Group Inc (COOP)

[hotmeat]

Am i wrong here???....reference post 518718 by Justice.



The FDIC on the 18/02/2009 provided a statement of assets and liabilities in liquidation. The total assets listed at inception was $298.79B while the assets acquired by JPM was $258.58B, a difference of ~$40.21B, referred to as "Asset-Related Equity Adjustments (Note 8)".

Making up this $40.21B is a Net Assets/(Deficit) At Inception valued at $26.4B and Claims At Inception which sum up to be ~$13.78B. These items are identified in the first line of Note 8 in the same document.

Quote: "Note 8. Non Cash Adjustments: Unrecorded Assets and Claims determined to have existed as of the institutions failure are deemed Discovered Assets and liabilities, respectively, and are recorded as non cash equity adjustments.

Above a clear distinction is made between the $26.4B Discovered Asset and the $13.78B Liability. That $26.4B is an Unrecorded Asset that was IMO, PURPOSELY NOT RECORDED, to ensure that the FDIC's statement showed a negative balance when in actuality there is a surplus.

Is it pure coincidence that this $26.4B falls neatly into the range of WAMU's last 10Q estimated valuation of $25B-$27B for it's Available for sale securities???